ALOPECIA TREATMENT MARKET ANALYSIS

Global alopecia treatment market is estimated to be valued at US$ 9.65 Bn in 2023, and is expected to exhibit a CAGR of 5.6% during the forecast period (2023-2030).

Analysts’ Views on the Global Alopecia Treatment Market:

Global alopecia treatment market is expected to experience steady growth due to the rising prevalence of alopecia that  includes conditions like alopecia areata, androgenic alopecia, traction alopecia and others. The market also is also influenced by an increasing focus on hair care.

Figure 1. Global Alopecia Treatment Market Share (%), By Drug Class, 2023

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Global Alopecia Treatment Market - Drivers

• Increasing product approvals for the treatment of alopecia: The increasing product approvals for the treatment of alopecia is expected to propel growth of the global alopecia treatment market over the forecast period. For instance, in June 2023, Pfizer Inc.,  a multinational biopharmaceutical corporation, announced that the U.S. Food and Drug Administration (FDA) had approved LITFULO (ritlecitinib), a once-daily oral treatment, for individuals 12 years of age and older with severe alopecia areata. The approved recommended dose for LITFULO is 50 mg. It is the first and only treatment approved by the U.S. FDA for adolescents (12+) with severe alopecia areata.
• Increasing research and development activities for the treatment of alopecia by market players: Increasing research and development activities for the treatment of alopecia by market players is expected to drive the global alopecia treatment market growth over the forecast period. For instance, in March 2023, OliX Pharmaceuticals, Inc., a leading developer of RNAi therapeutics, announced that it had received approval from the Human Research Ethics Committee (HREC) in Australia to initiate a Phase 1 clinical trial of OLX72021, a treatment for androgenic alopecia, also known as male-pattern baldness.        

Figure 2. Global Alopecia Treatment Market Share (%), By Region, 2023

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Global Alopecia Treatment Market - Regional Analysis

Among region, North America is estimated to hold a dominant position in the global  alopecia treatment market growth over the forecast period. North America is estimated to hold 35.9% of the market share in 2023 as key players operating in the market are focusing on product launches. For instance, in June 2022, Eli Lilly and Company,  a U.S.-based pharmaceutical company, and Incyte,  a global biopharmaceutical company, announced that the U.S. Food and Drug Administration (FDA) had approved OLUMIANT (baricitinib), a once-daily pill, as a first-in-disease systemic treatment for adults with severe alopecia areata (AA), and is available as 4-mg, 2-mg and 1-mg tablets.

Global Alopecia Treatment Market – Impact of Coronavirus (COVID-19) Pandemic

Since the COVID-19 virus outbreak in December 2019, the disease spread to over 100 countries across the globe, and the World Health Organization (WHO) declared it a public health emergency on January 30, 2020.

COVID-19 affected the economy in three main ways: by directly affecting the production and demand of drugs, by creating disruptions in distribution channels, and through its financial impact on firms and financial markets. Due to nationwide lockdowns, several countries such as China, India, Saudi Arabia, the U.A.E., Egypt, and others faced problems regarding transportation of drugs from one place to another.

However, the COVID-19 pandemic had negative impact on the global  alopecia treatment market. Economic uncertainties caused by the pandemic have influenced consumer spending behaviors, including spending on non-essential medications or treatments such as those for alopecia.

Global Alopecia Treatment Market Segmentation:

Global alopecia treatment market is segmented into  drug class, disease type,  route of administration, distribution channel, and region.

• By drug class, the market is segmented into corticosteroids, 5 ARiInhibitors, vasodilators, and others . Out of which, corticosteroids segment is expected to hold a dominant position in the global alopecia treatment market during the forecast period, as key players operating in the market focusing on organic strategies such as product launch to offer corticosteroids.
• By disease type, the market is segmented into alopecia areata, androgenic alopecia, traction alopecia, and others. Out of which, alopecia areata  segment is expected to hold a dominant position in the global alopecia treatment market during the forecast period due toincreasing prevalence of alopecia areata.
• By route of administration, the market is segmented intotopical, oral, and injectable Out of which, oral segment is expected to dominate the market over the forecast perioddue to rising adoption of oral drugs as it can be self-administered and economical.
• By distribution channel, the market is segmented into hospital pharmacies, retail pharmacies, and online pharmacies. Out of which, retail pharmacies is expected to dominate the market over the forecast period,due to to easy access to medicine through retail pharmacies.

Among all the segmentation, the drug classsegment is expected to dominate the market over the forecast period due  to increasing inorganic and organic growth strategies such as product launch and collaboration by market players for the treatment of alopecia.

Global Alopecia Treatment Market - Cross Sectional Analysis:

The key players are focusing on inorganic growth strategies such as license agreement for alopecia treatment, and this expected to drive the market growth in the North America region over the forecast period. For instance, in August 2022, Aclaris Therapeutics, Inc., a clinical-stage biopharmaceutical company that focuses on developing novel drug candidates for immuno-inflammatory diseases, announced a non-exclusive patent license agreement with Eli Lilly and Company (Lilly). Under the license agreement, Aclaris Therapeutics, Inc.  granted Lilly non-exclusive rights under certain patents and patent applications that Aclaris exclusively licenses from The Trustees of Columbia University in the City of New York, for the use of baricitinib like  Lilly’s JAK inhibitor to treat alopecia areata (AA). The agreement includes an upfront payment, regulatory and commercial milestones, and royalties.

Global Alopecia Treatment Market: Key Developments

• In June 2023, Cosmo Pharmaceuticals N.V.,  a pharmaceutical company, announced the initation of the phase III trials of clascoterone solution in males for the treatment of androgenetic alopecia (AGA).
• In March 2022, Triple Hair Group Inc., a company specializing in the development of innovative treatments for alopecia, announced the online launch of Plenty NaturalTM, a brand of patented and clinically proven natural hair growth products for women. In addition to its functional features, this product line helps strengthen, thicken and increase hair density, for healthier, fuller-looking hair.

Global Alopecia Treatment Market: Key Trends

• Increasing fund raising for alopecia treatment: Increasing fund raising for alopecia treatment in the market is expected to drive the growth of the global alopecia treatment market over the forecast period. For instance, in July 2021, Stemson Therapeutics, a U.S.-based pre-clinical stage cell therapy company, closed US$ 15 Mn Series A financing. The company intends to use the funds to advance development of its proprietary therapeutic solution to cure hair loss. The iPSC-derived cells are used to grow de novo hair follicles, offering a new supply of hair to treat people suffering from various forms of alopecia

Global Alopecia Treatment Market: Restraint

• Hold on clinical trial for alopecia treatment: Hold on clinical trials for the treatment of alopecia treatment is expected to hinder the market growth over the forecast period. For instance, in May 2023, Sun Pharmaceutical Industries Ltd. is a global specialty generic pharmaceutical company stated that the U.S. Food and Drug Administration (U.S. FDA) had hold study of 12 mg BID (twice a day) dose of deuruxolitinib on due to thrombotic events. The company said that it conducted a call with the drug regulator regarding a pulmonary embolism in one of the long-term Open Label Extension (OLE) studies. The company requires that the subjects that are currently on the dose in the OLE studies to be discontinued. The drug is an investigational oral selective inhibitor of Janus kinases JAK1 and JAK2 that is being studied for the treatment of alopecia areata.
• Counterbalances: Cure for alopecia treatment is being done by continuous clinical trials that are safe and effective drugs, and therapies. So, trials need to be done on continuous basis without creating any hold on it, for proper carrying out of the trials.

Global Alopecia Treatment Market - Key Players

The major players operating in the global alopecia treatment market include Stemson Therapeutics,  OliX Pharmaceuticals, Inc, Pfizer Inc., Aclaris Therapeutics, Inc., Fagron, Follicum AB, Cipla Inc., Arcutis Biotherapeutics, Dr. Reddy’s Laboratories Ltd., Himalaya Wellness Company, , Cosmo Pharmaceuticals N.V., Equillium, Inc., Eli Lilly and Company, Concert Pharmaceuticals Inc., and Teva Pharmaceutical Industries Ltd.

Definition: Alopecia (Hair loss) can affect  scalp or entire body, and it can be temporary or permanent. It can be the result of heredity, hormonal changes, medical conditions or a normal part of aging. Anyone can lose hair on their head, but it is more common in men.